Snowmobile Market to grow at 3.5% CAGR in 2021

This report, from Stratview Research, studies the global snowmobile market over the period 2010 to 2021.

(EMAILWIRE.COM, November 06, 2018 ) Stratview Research announces the launch of a new research report on Global Snowmobile Market by Vehicle Type (Mountain, Crossover, Cross Country, Utility, Touring, and Others), by Displacement (800CC), by Cylinder Type (One Cylinder, Two Cylinders, and Three Cylinders), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2016-2021

The Global Snowmobile Market: Highlights from the study
The global snowmobile market has an impressive history of more than six decades. During 1960ís, the snowmobile market gained popularity as a recreational vehicle in North America which led to the entry of more than hundred players in the market. They started competing with each other to gain the market share. Over a period of time, only four major players survived the competition and today, they remain as the key players, serving the global market. All the players have an excellent geographical presence serving North American as well as international market.

As per Stratview Research ,The global snowmobile market offers a moderate growth opportunity and is likely to witness 3.5% CAGR during the forecast period of 2016 to 2021. Mountain and cross over are the most dominant snowmobile types and together, they accounted for more than 50% of the global snowmobiles market in 2015. Both the snowmobile types are likely to remain the largest types during the forecast period. Utility snowmobile is likely to witness the fastest growth in the next five years.

The supply chain of this market comprises raw material suppliers, component manufacturers, snowmobile manufacturers, and distributors. The global snowmobiles market is consolidated with presence of global as well as regional players. The key snowmobile manufacturers are BRP Inc., Artic Cat, Polaris Industries, and Yahama Motors. Development of high displacement engine in the range of 1,000CC to 1,200 CC, in-house key component manufacturing, and presence in the key markets are the key strategies adopted by the key players to gain competitive edge in the market.